Flywheel Posts Strong 2025 Growth, Deepens Pharma Focus and Raises $27.5 Million for Clinical Imaging and AI Expansion

New updates have been reported about Flywheel.

Flywheel capped 2025 with record commercial momentum and fresh capital to scale its medical imaging data platform across clinical trials, pharma, and medical device markets. The Minneapolis-based company, which has evolved from a core lab research tool into an enterprise imaging management platform, reported 43% year-over-year growth in new business and a 40% increase in committed revenue, while annual recurring revenue from pharmaceutical and medical device customers more than doubled, rising 106% versus the prior year. The company’s net revenue retention exceeded 110%, indicating strong expansion within its existing customer base, and it now counts 10 of the world’s top 20 pharmaceutical companies and 10 of the top 20 academic medical centers among its clients. This traction is underpinned by Flywheel’s strategy to position imaging data as a strategic asset for clinical decision-making, AI development, and regulatory-grade evidence generation.

To support this growth and accelerate product innovation, Flywheel recently closed an oversubscribed equity financing totaling $27.5 million, led by Novalis Lifesciences and 8VC, with proceeds earmarked for expanding capabilities in clinical trial image management and AI model development. In 2025 the company broadened its platform with video viewing and annotation tools that allow management and analysis of video alongside traditional imaging data, and it launched Flywheel Validated, a solution designed to facilitate 21 CFR Part 11 compliant workflows for clinical trials, enabling earlier, higher-quality access to imaging data, secondary use, and faster decision-making. CEO and Board Chair Hooman Hakami emphasized that capturing the full value of imaging assets requires integrated data management, compliant workflows, and AI capabilities at scale, an area where Flywheel aims to differentiate itself as pharmaceutical sponsors, medical device manufacturers, and academic centers push to modernize imaging-driven R&D. Taken together, the company’s customer mix, accelerating recurring revenue, and new capital position it to deepen penetration in regulated clinical environments and support the growing demand for AI-ready imaging datasets across the healthcare ecosystem.